Retail: Page 35
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First Horizon poaches its next CFO from Truist
First Horizon's CEO said Hope Dmuchowski's merger experience gives her a "unique understanding." Dmuchowski had worked at BB&T before the 2019 Truist merger. First Horizon last year merged with IberiaBank.
By Dan Ennis • Nov. 10, 2021 -
Haugland Bowen, Katie. (2014). "Houston Skyline" [Photograph]. Retrieved from Flickr.
Allegiance, CBTX eye merger to form $11B-asset bank
The all-stock deal between the two largest community banks in Houston is expected to close in the second quarter of 2022, the banks said Monday.
By Robin Bradley • Nov. 9, 2021 -
Explore the Trendline➔
Permission granted by O’Malley Hansen Communications
TrendlineTop 5 stories from Banking Dive
Everything old is new again. One year after Citi’s reorganization, progress comes in “fits and starts.” Meanwhile, a contentious proposed rule is generating “voluminous” feedback after 14 months.
By Banking Dive staff -
Pablo Blazquez Dominguez via Getty Images
Santander raises overdraft threshold to $100
The $89.5 billion-asset bank's new overdraft program, called Santander Safety Net, follows a recent trend of traditional institutions revamping or doing away with the fee altogether.
By Anna Hrushka • Nov. 9, 2021 -
Michael Nagle via Getty Images
Hiring tech talent a 'major priority' for Chase, CIO says
As competition heats up in the hiring space, some large banks are leveraging flexibility in the form of hybrid work schedules and larger salaries.
By Robin Bradley • Nov. 8, 2021 -
Stefani Reynolds / Stringer via Getty Images
Trade group calls for Congress to ease restrictions on hiring ex-offenders
The Bank Policy Institute wants Congress to clarify which people and jobs are covered under Section 19 of the Federal Deposit Insurance Act, which requires that ex-offenders receive FDIC approval to work at a bank.
By Anna Hrushka • Nov. 8, 2021 -
Justin Sullivan via Getty Images
Citi puts a number to its South Korea wind-down charges
The bank expects to incur between $1.2 billion and $1.5 billion through the end of 2022 — mostly related to employee buyouts — to extricate itself from retail operations in the country, it said Monday in an amended SEC filing.
By Dan Ennis • Nov. 8, 2021 -
Chip Somodevilla via Getty Images
Longtime CBA chief Richard Hunt to step down
Hunt, whose 13-year tenure was book-ended by the Dodd-Frank rollout and the COVID-19 pandemic, plans to leave the banking lobby next summer.
By Robin Bradley • Nov. 4, 2021 -
Permission granted by Jiko
Digital bank Jiko accelerates banking-as-a-service strategy
The Jiko app is still available for consumers to download, and the company plans to keep enhancing its features, but its main use will serve as a "showroom" for Jiko's technology, CEO Stephane Lintner said.
By Anna Hrushka • Nov. 4, 2021 -
New York extends CRA requirements to nonbank mortgage companies
The move comes months after the state's Department of Financial Services found borrowers of color and low- and moderate-income communities in Buffalo were underserved by anti-redlining legislation.
By Robin Bradley • Nov. 2, 2021 -
Chris Hondros via Getty Images
JPMorgan Chase, Bank of America, TD reign in small-business satisfaction: J.D. Power
The nation's largest bank stood atop the West region for the ninth straight year — albeit in a tie with Bank of the West — the researcher found.
By Robin Bradley • Nov. 1, 2021 -
Permission granted by Greenwood Financial
Not a charity: How neobanks First Boulevard, Greenwood tackle wealth bias
"This is a bank. We're here to empower Black America, but why are you assuming that that means we're helping poor people?" First Boulevard COO Asya Bradley said at Money20/20 in Las Vegas.
By Anna Hrushka • Oct. 29, 2021 -
TD rolls out executive shakeup, names new US CEO
Leo Salom, TD's head of wealth management and insurance, will succeed Greg Braca as U.S. CEO on Jan. 1. Braca will move to a newly created role of vice chair of the bank's U.S. arm.
By Dan Ennis • Oct. 29, 2021 -
ColumnHow Citi and Congress have turned the past week into 'Round 2'
A warning about "significant" charges over the bank's South Korea operations — and a contentious messaging war around bank data reporting — have given recent days a sense of deja vu.
By Dan Ennis • Oct. 28, 2021 -
Christopher Furlong via Getty Images
Valley Bank unveils payments app for cannabis businesses
Valley Bank is partnering with a large processor to offer the service, which is similar to using a reloadable Starbucks wallet gift card, Chief Digital Product Officer Stuart Cook said.
By Anna Hrushka • Oct. 27, 2021 -
Justin Sullivan via Getty Images
Why Green Dot is bullish on brick-and-mortar retail
CEO Dan Henry said he is confident Green Dot's partnerships with select retailers that are expanding help it fulfill a need for a demographic that still relies heavily on cash.
By Anna Hrushka • Oct. 26, 2021 -
Mark Wilson via Getty Images
Pandemic widens mobile's lead as preferred way to bank, survey finds
About 44% of customers rated mobile the top option since the pandemic began — an 11-point jump from pre-COVID times, according to the ABA. Over that time, in-branch visits fell by the same margin.
By Robin Bradley • Oct. 26, 2021 -
Courtesy of Wells Fargo multimedia resources
Wells Fargo aims to debut revamped mobile app, virtual assistant next year
The bank's digital user interactions trail JPMorgan and Bank of America. But Wells last year brought onboard an executive who helped develop BofA's Erica.
By Dan Ennis • Oct. 25, 2021 -
Permission granted by Citigroup
Citi agrees to undergo racial audit
The bank joins institutions such as BlackRock and Morgan Stanley in agreeing to such a probe. Shareholders held off on the prospect of a racial audit in April, with the motion gaining 38% approval.
By Robin Bradley • Oct. 25, 2021 -
Drew Angerer via Getty Images
DOJ, CFPB and OCC link up to crack down on redlining
Jackson, Mississippi-based Trustmark Bank told the agencies it would pay $5 million to settle allegations it engaged in discriminatory lending practices from 2014 to 2018.
By Anna Hrushka • Oct. 22, 2021 -
Courtesy of Ally Financial
Ally to return to credit cards with $750M deal to buy Fair Square Financial
The deal is expected to close in early 2022. The Detroit lender abandoned credit cards in 2019 in favor of point-of-sale lending, then reneged on plans to merge with subprime card lender CardWorks last year.
By Robin Bradley • Oct. 22, 2021 -
Permission granted by Vast Bank
Vast Bank's new platform aims for the 'crypto curious'
"Banks for centuries have been safe keepers and custodians of what people value," said CEO Brad Scrivner. "And in today's world, that's now digital assets."
By Anna Hrushka • Oct. 21, 2021 -
H. Armstrong Roberts via Getty Images
Overdraft fees jump to $33.58 record average
The average surcharge for using out-of-network ATMs, however, fell to a 10-year low, according to a Bankrate survey.
By Robin Bradley • Oct. 21, 2021 -
N26
German regulator BaFin caps neobank N26's European growth
The limit — to no more than 70,000 new users a month — is "a temporary measure," the neobank's chief growth officer said, meant to allow N26 to focus on strengthening internal processes and frameworks.
By Anna Hrushka • Oct. 19, 2021 -
Capital One to acquire healthcare investment bank TripleTree
Capital One's latest move puts the $423 billion-asset bank in the company of several other lenders, including KeyBank and JPMorgan, which have made recent investments in the healthcare space.
By Anna Hrushka • Oct. 18, 2021 -
Chris Hondros via Getty Images
Column
No profit worries? Earnings week still served up drama
BNPL, crypto, bonuses, regulatory woes and even office layout bubbled up as subplots among Wall Street's heavy hitters.
By Dan Ennis • Oct. 18, 2021
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